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| Author: | Roeger, W. Fiore, F. de |
| Title: | Growth and employment effects of fiscal regimes |
| Journal: | Oxford Economic Papers
1999 : JAN, VOL. 51:1, p. 200-222 |
| Index terms: | Growth Employment Fiscal policy Economic theory Models Europe |
| Language: | eng |
| Abstract: | In this paper, an endogenous growth model is presented with firms exhibiting external or internal increasing returns. Firms are either perfectly or monopolistically competitive. Fiscal policy results are extended to cases where innovations are intentionally generated by firms. To provide quantitative information, the model is calibrated to replicate EU-7 aggregate data. The theoretical results indicate that distortionary taxes have strong negative effects on growth and employment, and they tend to increase with the degree of private returns. However, the quantitative results turn out to be fairly robust with respect to alternative assumptions on the degree of internal increasing returns made in the process of calibrating the model. |
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